Global Industrial Brakes Market Projected to be Worth US$2.59 bn by 2025 as Automation Industry Expands Rapidly - QY Research
LOS ANGELES, June 27, 2019 /PRNewswire/ -- QY Research has recently published its new report titled, "Global Industrial Brakes Market Report, History and Forecast 2014-2025", which presents the various market segments with detailed studied of the key regions. The research report also includes key drivers and restraints of the global industrial brakes market and their impact during the forecast period. This report also highlights the various growth opportunities in the industrial brakes market along with an in-depth analysis of the key players and their strategies for the forecast period. The report has covered historical data and compared it to various industry trends to ascertain the global revenue of the market. The detailed information of the mergers and acquisitions by the top players in the market is also included in this report.
QY Research report states that the global industrial brakes market is anticipated to touch the valuation at US$2.59 bn by 2025, with a registering CAGR of 3.6% throughout the forecast period.
Global Industrial Brakes Market: Trends and Opportunities
The transition of manufacturing sector towards smart manufacturing and automation, improved by growing investments in industrial automation equipment are the major factors that are responsible for the growth of the global industrial brakes market. Industries around the world are mainly influenced by regulations and standards that demand equipment performance and proper safety measures for men and materials. These regulations have compelled manufacturers to focus on the research and development activities, which is expected to propel the market growth.
In addition, the end-use industries such as steel, oil & gas, mining, coal handling, and power generation are foreseen to create lucrative growth opportunities in the global market for industrial brakes. Moreover, increasing adoption of new and innovative products such as advanced material brake shoe and rotors, and backstopping clutches are augmented the market.
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Global Industrial Brakes Market: Segment Analysis
The global market for industrial brakes can be segmented into applications and product type. The application segment is classified on the basis of marine and shipping, material handling, energy, mining, lifts and escalators, and others. The product type segment mainly includes drum brakes, disc brakes, and others.
Global Industrial Brakes Market: Regional Analysis
Europe and North America are expected to witness remarkable growth in the industrial brakes market due to growing advanced technology systems. These regions are the manufacturing hubs for industrial brakes due to rapid advancements in technology. Asia Pacific is also likely to offer lucrative growth opportunities to the industrial brakes market due to rising investment in industrial automation.
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Global Industrial Brakes Market: Leading Players
Tolomatic, Altra, Wulong, Eaton, Shanghai Borui, CBF, Jiaozuo Brake, Akebono Brake, GEMCO, Pintsch Bubenzer, Antec, SANYO SHOJI, Jiaozuo Changjiang Brake, and SIBRE are the key manufacturers that are operating in the global industrial brake market.
Global Industrial Brakes Market: Competitive Landscape
Akebono Brake has expanded its ultra-premium disc brake pad line by eight numbers i.e. five EURO part and three ProAct on May 2019. This ultra-premium stainless hardware is included in five parts, which requires four of the EURO kits with an electronic wear sensor. Companies are adopting product expansion strategies to enhance their product portfolios to remain relevant in the market.
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Related Reports:
Global Industrial Brakes and Clutches Market: https://www.qyresearch.com/index/detail/1118229/global-industrial-brakes-and-clutches-market
Global Disc Industrial Brakes Market: https://www.qyresearch.com/index/detail/1009655/global-disc-industrial-brakes-industry-trends-and-forecast-to-2025
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